Tuesday, March 20, 2012

Online Payment Market Of India Is Growing

The banking, financial and regulatory environment in India is becoming very conducive for online payment market of India. Companies like PayPal have already realised the potential of online payment markets of China and India. PayPal is planning to make its presence in India and China more prominent.

Another reason why companies like PayPal are entering into Indian market is the strong growth of e-commerce in India. With the growth of e-commerce and e-governance in India, online payment market would also grow. For instance, electronic delivery of services in India would also result in a parallel growth of online payment platforms in India.

While things are happening in the right direction yet there are some shortcomings as well. For instance, a majority of e-commerce payments are still made in an offline manner. The cash on delivery may harm e-commerce in India in the long run. A shift toward online payments is not only desirable but is also inevitable.

While the opportunities for e-commerce and online payment companies are great yet the corresponding obligations are also equally troublesome. If e-commerce and online payment companies wish to make good profits they have to ensure sound compliance with Indian laws, especially the cyber law of India.